In some major California cities, the For-sale inventories dropped the most year-over-year in December 2012.  Sacremento had the highest drop at 68%.

  • Sacramento, Calif.: -68%
  • Stockton-Lodi, Calif.: -65%
  • Oakland, Calif.: -64%
  • San Jose, Calif.: -52%
  • Seattle-Bellevue-Everett, Wash.: -45%
  • San Francisco: -43%
  • Ventura, Calif.: -43%
  • Riverside-San Bernardino, Calif.: -41%
  • Los Angeles-Long Beach, Calif.: -40%
  • Orange County, Calif.: -39%

Good for all of us?  Causiously and optimistically, yes.  If for sale inventories drop, then this means we could be shifting from a dominately buyer driven market to more even spread.    A strong seller market indicates that homes are selling fast and sellers are getting more of their asking price.  A seller market is a point.... as long as we don't indulge in "irrational exuberance" to quote the infamous and late Fed Reserve Chairman Allan Greenspan.